Better bidding procedures lure investors to Mexico’s round 2 auction

Mayer Brown LLP’s Houston and Mexico City offices and Mexico’s MCM Abogados were among the firms advising the winning bidders in Mexico’s first round 2 oil and gas auction, which has been widely praised for its diverse list of bidders and high-value proposals.

Better bidding procedures lure investors to Mexico’s round 2 auction The CNH awarded contracts worth a combined US$8.19 billion , istock.com/nielubieklonu

Mexico’s National Hydrocarbons Commission (CNH) successfully tendered 10 of the 15 shallow water blocks available in the Gulf of Mexico. The auction, which was held on 19 June, awarded contracts worth a combined US$8.19 billion to 18 of 28 companies that prequalified. Combined, the blocks have the potential to pump out 170,000 barrels of oil per day.

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